Encouraging Rare Earth Element Results At Cloud Nine Kaolin Project

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to report the results from the recent rare earth element (REE) analysis at its 100% owned Cloud Nine Halloysite-Kaolin Deposit (“Cloud Nine”) in Western Australia. The results have confirmed REE mineralisation with anomalous concentrations in 38% of the samples.

• Geochemical analyses confirm widespread clay-hosted rare earth element (REE) mineralisation.
• Up to 3617 ppm, 0.36% total rare earth oxide (TREO) in <45 µm fraction from halloysite- kaolinite units.
• Cloud Nine is enriched in the high-value ‘magnet feed’ rare earths, magnetic rare earth oxides (MREO).
• MREOs are a critical component of high-performance magnets used for climate economy products such as electric vehicles and wind turbines.

Analysis was conducted on a small random selection (one out of every 20) of existing <45 µm fraction samples collected from the recent infill drill programme at Cloud Nine. Results from 30 of 78 samples submitted for analysis have returned anomalous total rare earth oxide (TREO) concentrations of >1000 ppm; five have TREO concentrations >3500 ppm, with a maximum TREO value of 3617 ppm.

Importantly, a large proportion of the TREO encountered in analysis are the in-demand magnetic rare earth oxides (MREO), which are a critical component of high-performance magnets used for climate economy products such as electric vehicles and wind turbines. The key magnetic rare earth oxides are neodymium (Nd) and praseodymium (Pr) which form the majority of the MREO mix in the samples.

The Company believes these results are encouraging and warrant further analyses to identify the extent of the REE mineralisation encountered at Cloud Nine.

Latin has engaged RSC, an experienced geological consulting service company, to provide an independent review of the REE data, incorporated in this update.

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